What happnes to BTC,if the oil price goes up?

[weeklyeth]

as of today, crude oil prices are also fluctuating bitcoin is no way related to socio-economic events bitcoin is more dependent on blockchain news and adoption

[Bakemat]

The oil price is going up and many people expect it will go above 100 USD per barrel,or even 120 USD per barrel.How this will impact the world economy and the cryptocurrency prices?
I have many own theory about this and I will share it later,but know I'm waiting for other opinions.
Is this good or is it bad for bitcoin?

In my own opinion, the price of bitcoins will not be affected by the increase of oil price because the value of cryptocurrency is depending on the demand and supply in the market and fud as well that can actually dump the price of cryptocurrency if people will start to reject bitcoins.

[bitbunnny]

First of all I don't see any connection between Bitcoin and oil in any segment and there is no mutual influence whatsoever.
Bitcoin or cryptocurrencies are not connected with oil market and the price of Bitcoin is defined by crypto market, the demand and supply.
It seems that every time when the Bitcoin price goes down people try to find some unbelivable causes and patterns that makes no sense at all. I think this is because of ignorance and lack of experience.

[Kate Beckett]

If we look at the graphs of the bitcoin and Brent prices, we can see a correlation: if the price of oil is rising, then bitcoin grows, if the price of oil falls, then bitcoin falls, although the volatility of the bitcoin course is much greater than the volatility of the oil price. This means that bitcoin is highly dependent on oil prices, that is, apparently, large volumes of oil are sold for bitcoins.

[Thanasis]

First of all I don't see any connection between Bitcoin and oil in any segment and there is no mutual influence whatsoever.
Bitcoin or cryptocurrencies are not connected with oil market and the price of Bitcoin is defined by crypto market, the demand and supply.
It seems that every time when the Bitcoin price goes down people try to find some unbelivable causes and patterns that makes no sense at all. I think this is because of ignorance and lack of experience.

Yes,why they are comparing bitcoin with oil barrels.

Media reviews about the crypto currencies are the most important factor on deciding the bitcoin prices.So other things happening around the world may not have a big part in the crypto currency field.

[napi]

when bitcoin price rises then what will happen with bitcoin it seems that bitcoin volume will increase and bitcoin transactions will become very crowded and bitcoin will be difficult to obtain.

[alfs75]

The oil price is going up and many people expect it will go above 100 USD per barrel,or even 120 USD per barrel.How this will impact the world economy and the cryptocurrency prices?
I have many own theory about this and I will share it later,but know I'm waiting for other opinions.
Is this good or is it bad for bitcoin?

I thinks there is nothing much affected into the situation of cryptocurrency investment when the oil price value going to high,and i feel it now in my own country,because in real life im also a motorist and at the same time a cryptocurrency enthusiastic,actualy i dont know if theres much affected in the other countries when the oil price value is going to hike high and maybe the digital currency investment also on there homeland going up or vice versa,but here in my own country cyptocurrency is no connection in oil price hike.

[lordmick]

You can simply create a correlation-regression equation and solve it. I'm sure you will not find any connection between Bitcoin's price and oil prices. The price of Bitcoin is likely to be more correlated with the US dollar index.

[icoprofits]

bitcoin is no way related to oil prices and gold and silver prices and much more importantly bitcoin is related to adoption of blockchain and government positive attitude towards bitcoin

[Findingnemo]

The oil price is going up and many people expect it will go above 100 USD per barrel,or even 120 USD per barrel.How this will impact the world economy and the cryptocurrency prices?
I have many own theory about this and I will share it later,but know I'm waiting for other opinions.
Is this good or is it bad for bitcoin?

Bitcoin is not connected to oil price high. The only affected is economy in small country like here in the Philippines. If that happen oil price value become higher than the price now, all filipino people suffered the the high price value of any kinds of goods, foods and all merchandise are going high price value so I hope it will stable in a low value of dollar.

Yes there is no connection between crypto currencies are you and also because he had no connection between any other country are any other state terminal so there is no changes will happen if the bitcoin files are the high-end goes up the only connection is this changes in that country.

[Biscutard]

The oil price is going up and many people expect it will go above 100 USD per barrel,or even 120 USD per barrel.How this will impact the world economy and the cryptocurrency prices?
I have many own theory about this and I will share it later,but know I'm waiting for other opinions.
Is this good or is it bad for bitcoin?

Oil price and crypto currency prices are different in terms of physical and digital but also oil is not that something that will change the course of price of bitcoin. Bitcoin is like a currency but in digital only and is mined through computer while oil is just an asset and not a currency. Talking about of economical situation versus crypto currency is totally irrelevant.

[sarul]

bitcoin is no way related to oil prices and gold and silver prices and much more importantly bitcoin is related to adoption of blockchain and government positive attitude towards bitcoin

The only thing that affects the bitcoin price seems to be the trader. Look, bitcoins are getting harder to mine or because bitcoin is rarely used as payment because the fees quite large, but their prices look downhill throughout 2018.

[Ludji]

I don't see any correlation. Currently, I think, only whales influence the markets.

[wewe123]

If the oil prices up in the oil market , and other commodities, it does not effect the price value of bitcoin , the price of bitcoin changes only through its volatility , from the effects of supply and demand of bitcoin in the coin market index, bitcoin prices will not be affected by this petroleum product price hike.

[boynamnhi]

The oil price is going up and many people expect it will go above 100 USD per barrel,or even 120 USD per barrel.How this will impact the world economy and the cryptocurrency prices?
I have many own theory about this and I will share it later,but know I'm waiting for other opinions.
Is this good or is it bad for bitcoin?

You can see that bitcoin is moving sideways after recovering to $ 6500, according to my analysis, bitcoin prices are recovering strongly and could rise sharply in coming days, You should buy bitcoin at this time, bitcoin prices will be able to continue to rise and reach the $ 7000 mark in the coming days.

[skaynet]

I think bitcoin and oil have nothing to do with it at all
oil prices are not like bitcoin that is very volatile

[dirham99]

The oil price is going up and many people expect it will go above 100 USD per barrel,or even 120 USD per barrel.How this will impact the world economy and the cryptocurrency prices?
I have many own theory about this and I will share it later,but know I'm waiting for other opinions.
Is this good or is it bad for bitcoin?

In my opinion, I do not see any connection to Bitcoin in this case, and if the price of both responds equally in some respects before, that possibility is a coincidence. I think, bitcoin prices are currently declining due to market correction. I believe It will increase again.

[Elai101]

The oil price is going up and many people expect it will go above 100 USD per barrel,or even 120 USD per barrel.How this will impact the world economy and the cryptocurrency prices?
I have many own theory about this and I will share it later,but know I'm waiting for other opinions.
Is this good or is it bad for bitcoin?

In my opinion, I do not see any connection to Bitcoin in this case, and if the price of both responds equally in some respects before, that possibility is a coincidence. I think, bitcoin prices are currently declining due to market correction. I believe It will increase again.

I have the same sentiments with you. Oil price going up doesn't affect the value of BTC because the only fuel for BTC to run is internet. It doesn't make sense if it will connect to oil price. They don't have any conection either. BTC still alive if oil price goes high.

[bachus]

I agree with the opinions of guys above me, what is the real connection? If the world economy definitely gets harmed, I dont think it will affect the crypto economy at all.

[alibaba93]

The oil price is going up and many people expect it will go above 100 USD per barrel,or even 120 USD per barrel.How this will impact the world economy and the cryptocurrency prices?
I have many own theory about this and I will share it later,but know I'm waiting for other opinions.
Is this good or is it bad for bitcoin?

I really find that your question is very good, you can see that the market is slowly falling into crisis and the world is gradually facing a global economic crisis. As all of them are down, I believe that gasoline prices, bitcoin and gold prices will rise sharply. These are fixed and scarce assets, and there is also high security, so people will focus on those types of investments.